The Real Deal Miami

Doral industrial facility trades for $12.7M

California REIT is the buyer of Miami International Commerce Center property

July 29, 2014 12:45PM

2323 Northwest 82nd Avenue

A Doral industrial facility located within the Miami International Commerce Center changed hands for $12.7 million.

NP 82nd Ave Miami Industrial, a company tied to Boston-based AEW Capital Management, sold the 2323 Northwest 82nd Avenue building in a transaction recorded on Monday, according to Miami-Dade County records. NP 82nd paid about $19.5 million for the property in November 2007. The 155,000-square-foot facility was originally constructed in 1991.

A company linked to Glendale, Calif.-based PS Business Parks is the buyer. PS Business is a publicly traded real estate investment trust that specializes in commercial real estate leasing, according to its website. No financing was recorded.

The Miami International Commerce Center is a 3.3 million square foot business park with office, industrial and flex space. — Eric Kalis